CWCO - Consolidated Water slips 7% on Q3 miss

Consolidated Water ([[CWCO]] -6.6%) Q3 results:Revenue of $17.7M (+11.4% Y/Y) vs. consensus of $19.2M, driven by increases of $3.3M in the services segment and $0.2M in the manufacturing segment which was partially offset by decreases of $1.3M in the retail segment and $0.4M in the bulk segment.The decrease in retail revenue was due to an 18% decrease in the volume of water sold due to the temporary cessation of tourism on Grand Cayman resulting from the closing of all Cayman Islands airports and seaports in March 2020 in response to the COVID-19 pandemic.The decrease in bulk segment revenue is attributable to a decrease in CW-Bahamas' revenue of ~$431K for 2020 due to lower energy costs, which correspondingly decreased the energy pass-through component of CW-Bahamas' rates.Gross profit of $6.2M (-7.5% Y/Y).Net loss $1.4M (-17.7% Y/Y) and EPS of $0.09 (-18.2% Y/Y) vs. consensus of $0.15.Cash & cash equivalents of $38.2M.Previously: Consolidated Water EPS misses by $0.06, misses

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Consolidated Water slips 7% on Q3 miss